personal blog from fALk v010

Finance Minister Of Japan Drunk at G7?

Word in the tubes is that the finance minister of Japan was drunk during the recent G7 meetings - you can judge for yourself if it is true or not - I donīt really blame him. His country just announced that its economy shrunk by 12.7%.

On a related note here is the first plausible definition of what the difference between a recession and a depression is in financial terms.

Recession: The economy will recover. Just be smart and be patient.

Depression: The economy won't recover. After 10+ years, the methods of investment will be permanently changed to something significantly different.

Update: The Minister has resigned after Japanese Press put the story out big time and the Japanese Prime Minister was ashamed for his country.